U.S. housing starts fall to more than two-year low

WASHINGTON - U.S. homebuilding tumbled to a more than two-year low in December as construction of both single and multi-family housing declined, the latest indication that the economy lost momentum in the fourth quarter.

Housing starts dropped 11.2 percent to a seasonally adjusted annual rate of 1.078 million units last month, the weakest reading since September 2016. Data for November was revised down to show starts at a 1.214 million unit rate instead of the previously reported pace of 1.256 million units.Economists polled by Reuters had forecast housing starts slipping to a pace of 1.250 million units last month.

The dollar extended losses against a basket of currencies on the report, while U.S. Treasury prices rose. U.S. stock index futures fell.The report added to weak December retail sales and business spending plans on equipment in suggesting that economic growth cooled down significantly at the tail end of 2018.

Though mortgage rates have been declining and house price inflation has decelerated, economists expect the housing market weakness to persist at least through the first half of 2019. It was the fourth straight monthly decline in single-family homebuilding. Single-family starts in the South, which accounts for the bulk of homebuilding, rose 2.2 percent in December.

No jobs worthy of the name and a check to check existence do not lead to home ownership, you cannot relentlessly ship jobs out of the country and expect the economy to keep rolling along. The crash is coming, housing merely shows the signs.

Another Red Flag. When stocks drop it will be a huge sell off as the Economy is starting to show signs of exhaustion.

True.

2008 all over again.

Quick relax mortgage lending rules!

That is a 'GOOD' thing, we have more $1 mil homes than buyers now. As our farm lane evaporates, who will the left blame. realDonaldTrump , most likely. Blame your own greedy selves DNC

What does this headline even mean? It “starts fall” to someplace it hasn’t been in two years? How did it get there if the fall hadn’t started?

What happened to the tax rebates realDonaldTrump and the GOP said they were giving everyone? Or was it just for the rich?

Thanks again Trump

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